New Delhi, March 11 Kinetic Engineering Ltd said on Wednesday that its promoter group has invested an additional ₹40 crore in the company.
The capital infusion is through the conversion of warrants, subject to necessary approvals and applicable regulatory provisions, Kinetic Engineering Ltd (KEL) said in a statement.
Following the transaction, the promoter's shareholding in the company has increased to 65 per cent from 49 per cent four years ago, reflecting deeper promoter participation in the company's future, it added.
The investment by promoters comes at a time when Kinetic Engineering is strengthening its presence across emerging mobility technologies, particularly in electric vehicle components, battery systems, and precision engineering solutions for global OEMs, the company said.
KEL Vice Chairman & Managing Director, Ajinkya Firodia, said the company is expanding nationwide and plans to appoint over 150 dealers this year.
Meanwhile, Kinetic Engineering's component business is showing great potential and new orders.
"We will be using these funds for the expansion of both projects as required and planned. This additional investment reflects the promoter group's continued confidence in Kinetic Engineering and our long-term strategy," he added.
Stating that the automotive industry is undergoing a profound shift towards electric mobility, Firodia said, "We are building the capabilities needed to participate meaningfully in this transition."
He further said, "Strengthening the company's capital base allows us to accelerate investments in technology, manufacturing, and innovation as we prepare for the next phase of growth."